金发科技股份有限公司2026年3月对控股子公司提供担保进展公告详解
一、公告要点
- 金发科技股份有限公司（以下简称“金发科技”或“公司”）及其控股子公司在2026年3月为控股子公司提供了大额担保，涉及广东金发科技有限公司、辽宁金发科技有限公司、宁波金发新材料有限公司。
- 截至2026年3月31日，公司及其控股子公司对外担保总额达到232.2亿元人民币，占2024年经审计归属于上市公司股东净资产的129.27%。
- 公司本月实际新增担保金额共计67,763.48万元。
- 主要担保合同均为连带责任保证，担保对象全部为公司控股子公司，且无反担保安排。
- 本次担保余额已显著超过上市公司最近一期经审计净资产的50%，对外担保总额也已超过净资产的100%，属于高度关注事项。
- 部分被担保单位资产负债率超过70%，担保风险需重点关注。
二、详细担保情况
| 被担保人名称 |
本月新增担保金额（万元） |
本月末担保余额（万元） |
担保额度 |
是否有反担保 |
| 广东金发科技有限公司 |
30,000.00 |
159,961.80 |
350,000.00 |
否 |
| 辽宁金发科技有限公司 |
7,529.48 |
534,457.68 |
926,500.00 |
否 |
| 宁波金发新材料有限公司 |
30,234.00 |
427,989.75 |
820,000.00 |
否 |
三、担保合同主要内容
担保合同涉及为控股子公司银行融资、结算及电子商业承兑汇票等业务提供连带责任保证，担保范围包括主债权、利息、罚息、违约金、损害赔偿金及实现债权的相关费用，部分合同担保期限为债务履行期限届满之日起三年。各主要担保合同均无反担保安排，风险主要由公司自行承担。
四、被担保子公司财务状况
- 广东金发：2025年9月30日资产总额67.46亿元，负债49.19亿元，资产净额18.27亿元，1-9月营收32.2亿元，净利润为-929.5万元，2024年度净利润为-1,804万元。
- 辽宁金发：2025年9月30日资产总额129.59亿元，负债101.21亿元，资产净额28.38亿元，1-9月营收55.77亿元，净利润为-9.61亿元，2024年度净利润为-14.95亿元。
- 宁波金发：2025年9月30日资产总额92.90亿元，负债80.63亿元，资产净额12.27亿元，1-9月营收57.79亿元，净利润为-5.67亿元，2024年度净利润为-4.99亿元。
上述三家被担保子公司2025年前三季度和2024年度均为亏损状态，且辽宁金发与宁波金发亏损较为严重，资产负债率较高，反映出较大的财务压力和经营风险。
五、对股东和投资者的影响与风险提示
- 本次担保事项金额巨大且已大幅超出公司净资产，若被担保子公司无法履约，公司将承担较大财务风险，严重时可能影响公司正常经营和偿债能力，属于高度敏感事项。
- 被担保子公司财务状况不佳，均为亏损且资产负债率高，未来若经营未能改善，担保风险将进一步加剧。
- 公司董事会认为担保事项有助于子公司业务发展及资金支持，风险总体可控，但实际执行中仍需密切关注风险变化。
- 公司不存在逾期担保情形，所有担保均系为控股子公司提供。
- 少数股东未按认缴出资比例提供担保，也未向公司提供反担保，公司承担全部担保风险。
六、总结
本次公告反映出金发科技为支持主要控股子公司持续经营和发展，采取了大规模担保措施，但由于担保金额已远超公司净资产、被担保子公司经营亏损且负债率高，相关风险已处于高位，投资者需高度关注公司财务风险和后续子公司经营状况的变化。此事项对公司未来经营、融资能力和股价具有重大潜在影响，需密切跟踪相关进展。
免责声明：本文仅供投资者参考，不构成任何投资建议。投资者应自主判断相关风险，审慎决策。
Kingfa Sci. & Tech.: March 2026 Subsidiary Guarantee Progress Report – Detailed Investor Analysis
Key Points
- Kingfa Sci. & Tech. Co., Ltd. (“Kingfa” or “the company”) provided substantial guarantees in March 2026 for its major subsidiaries: Guangdong Kingfa, Liaoning Kingfa, and Ningbo Kingfa.
- As of March 31, 2026, the total external guarantees by Kingfa and its subsidiaries reached RMB 23.22 billion, equivalent to 129.27% of the company’s most recent audited net assets (2024), far exceeding regulatory warning thresholds.
- Total new guarantee amount for March: RMB 677.63 million.
- All guarantees are provided as joint and several liability, with no counter-guarantee from subsidiaries or minority shareholders.
- Guarantee balances now exceed 50% of net assets; total guarantee exceeds 100% of net assets – a highly material and sensitive issue for shareholders.
- Some guaranteed units have asset-liability ratios above 70%, indicating material financial and credit risk.
Guarantee Details
| Subsidiary |
March New Guarantee (mn RMB) |
End-March Guarantee Balance (mn RMB) |
Approved Limit (mn RMB) |
Counter-Guarantee |
| Guangdong Kingfa |
300 |
1,599.62 |
3,500 |
No |
| Liaoning Kingfa |
75.29 |
5,344.58 |
9,265 |
No |
| Ningbo Kingfa |
302.34 |
4,279.90 |
8,200 |
No |
Guarantee Contract Features
The guarantees are for subsidiaries’ bank financing, settlements, and electronic commercial bills, all under joint and several liability. Guarantee scope includes principal, interest, penalties, damages, and enforcement costs. Most guarantee terms cover three years after debt maturity. There is no counter-guarantee from subsidiaries or minority shareholders.
Financial Profiles of Guaranteed Subsidiaries
- Guangdong Kingfa: As of Sept 30, 2025, assets RMB 6.75bn, liabilities RMB 4.92bn, net assets RMB 1.83bn. 9M25 revenue RMB 3.22bn, net loss RMB 9.3mn. 2024 net loss RMB 18mn.
- Liaoning Kingfa: As of Sept 30, 2025, assets RMB 12.96bn, liabilities RMB 10.12bn, net assets RMB 2.84bn. 9M25 revenue RMB 5.58bn, net loss RMB 960mn. 2024 net loss RMB 1.50bn.
- Ningbo Kingfa: As of Sept 30, 2025, assets RMB 9.29bn, liabilities RMB 8.06bn, net assets RMB 1.23bn. 9M25 revenue RMB 5.78bn, net loss RMB 567mn. 2024 net loss RMB 499mn.
All three subsidiaries are loss-making and highly leveraged, especially Liaoning and Ningbo Kingfa, which face significant financial and operational risks.
Shareholder & Investor Impact – Key Risks
- The guarantee amounts are very large and far exceed company net assets. If any subsidiary defaults, Kingfa bears full responsibility, which could severely impact operating cash flow and solvency, and is a highly sensitive matter for share price.
- All guaranteed subsidiaries are loss-making with high leverage. If business does not improve, guarantee risk may worsen.
- The Board believes the guarantees support business development and are manageable, but investors should closely monitor execution risk.
- No overdue guarantees exist; all guarantees are for controlled subsidiaries.
- No counter-guarantee or risk sharing by minority shareholders – Kingfa assumes full risk.
Conclusion
This report reveals Kingfa’s aggressive guarantee strategy to support its major subsidiaries’ operations. The guarantee scale is now well above industry warning lines and involves subsidiaries with persistent losses and high leverage. These factors pose a non-negligible risk to Kingfa’s financial health and may have major implications for its funding costs, investor confidence, and share price. Investors should remain vigilant and track operational and risk developments closely.
Disclaimer: This article is for reference only and does not constitute investment advice. Investors should assess risks independently and make prudent decisions.
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